PrimeGen Awarded Layevozhskoye License in Russia

BRIDGEWATER, NJ--(Marketwire - November 4, 2009) - PrimeGen Energy Corp. (PINKSHEETS: PGNE)
("PrimeGen" or the "Company") announced today that its wholly owned Russian
subsidiary OOO Verkhne Michayu Group ("Verkhne") has been awarded the
Layevozhskoye oil and gas exploration license in the Baltic Basin in
Western Russia.

The vast majority of the area of the Baltic basin is under license or under
application by numerous domestic and international companies. This award
therefore gives PrimeGen access to a highly desirable region, during a
period of considerable competition. The concession totaling 2065.32 km2 is
located in the Baltic Basin western Russia including portions of license
blocks 36, 45, 46, 73 and 74.

The License is valid for up to 10 years and covers a work program which
includes geological studies, seismic acquisition and a one well drilling
obligation. If a discovery is made the term extends to 25 years with an
additional 25 years, if required.

The primary reason for applying for this license is the high potential of
the Paleozoic shales that could lead to a commercial shale gas development
similar to the Barnett Shale in the United States. In addition, PrimeGen
believes that while testing the shale gas potential of the area there are
conventional oil targets above and below the shale intervals further
reducing the risk of exploration.

Robert Charlton, CEO of PrimeGen commented, "We are excited to expand our
portfolio in Russia into the underexplored Baltic Basin. There is a
potentially significant unconventional gas play in the Paleozoic shales
that we believe will unlock an overlooked high potential play in the wider
region. We also believe there is significant potential that has been
overlooked in several conventional targets on the license."

In the initial exploration phase, an environmental study is planned to be
carried out. Taking account of 2D material already available, a 3D seismic
test is then to be conducted across an area 500 square kilometers in size.
In addition, an exploration well is to be drilled once the seismic testing
has been completed.

About PrimeGen Energy Corporation

PrimeGen Energy Corp. is an oil and gas exploration Company whose primary
focus is exploring and developing high potential unconventional resource
plays. The Company's strategy and development assets are focused on a
prolific and historic oil and natural gas resource play in Krasnoarmeiskome
District, Saratovskoi Oblast in Russia. The Company is headquartered in
Bridgewater, NJ and has offices in Moscow, Russia. PrimeGen Energy plans to
use its comparative advantages in certain geographic regions to expand
rapidly through strategic acquisitions of small oil and gas producing
entities and production assets including wells, properties, operating
equipment, and pipelines.

Forward-Looking Statements

This news release contains "forward-looking statements," as that term is
defined in Section 27A of the Act and Section 21E of the Securities
Exchange Act of 1934. Statements in this press release, which are not
purely historical, are forward-looking statements and include any
statements regarding beliefs, plans, expectations, or intentions regarding
the future.

Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others, the
inherent uncertainties associated with the development of an early stage
company in the alternative energy industry, its products, and the entry
into new markets for such products. These forward-looking statements are
made as of the date of this news release, and the Company assumes no
obligation to update the forward-looking statements, or to update the
reasons why actual results could differ from those projected in the
forward-looking statements. Although the Company believes that the beliefs,
plans, expectations, and intentions contained in this press release are
reasonable, there can be no assurance those beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consider all of the
information set forth herein and should also refer to the risk factors
disclosed in the Company's current and periodic reports filed from time to
time with the Securities and Exchange Commission.